Using longitudinal survey data from western Kenya, this paper estimates the economic impacts of antiretroviral treatment. The responses in two important outcomes are studied: (1) labor supply of adult AIDS patients receiving treatment; and (2) labor supply of patients’ household members. We...

Traditional theories argue that governance is strongest under a single large blockholder, as she has high incentives to undertake value-enhancing interventions. However, most firms are held by multiple small blockholders. This article shows that, while such a structure generates free-rider...

Since the early 1990s, U.S. pharmaceutical firms havepartially outsourced the coordination of the clinical trialsthey sponsor to specialized firms called contract researchorganizations. Although these exchanges appeared ripefor the development of close, “embedded” ties, they werein fact...

The thesis comprises three essays on various aspects of the development and diffusion of pharmaceutical innovations, woven together by the idea that the production of clinical knowl- edge influences organizational design, pricing, and advertising decisions in the pharmaceutical industry - that...